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07 Dec 2022

3 min read

Hashflow chooses Wormhole for their cross-chain messaging needs, reducing fees by 50%


Hashflow, a decentralized exchange with zero slippage, recently announced switching to Wormhole to power their cross-chain messaging needs — a move that will result in a 50% reduction of fees for any given user. Wormhole is excited to be supporting Hashflow in building their unique decentralized and trustless request-for-quote trading platform.

“We want to build products that users love and enable them to seamlessly trade any asset across any chain without complexity or extra steps. We’re excited to leverage Wormhole’s message passing protocol to build the most seamless cross-chain experience in the industry.” — Varun Vruddhula, Founder and CEO at Hashflow

The unique Hashflow advantage

Hashflow is a decentralized exchange designed for interoperability, zero slippage, and MEV-protected trades. Hashflow uses a hybrid on-chain / off-chain RFQ (Request for Quote) engine to fetch off-chain quotes from market makers who manage liquidity in on-chain pools. Market makers are required by smart contracts to cryptographically sign quotes that remain unchanged for the duration of the trade. This ensures that the prices offered to users are guaranteed and cannot be front-run and arbitraged by MEV bots, regardless of whether the trade is executed on a single chain or across chains.

Hashflow has done over $10B in volume since its August, 2021 launch. Users quickly realized that, compared to other DEXs, they could get the most value for their buck on every trade with Hashflow.

What does this mean for Market Makers?

No more constant-product pricing functions commonly used by AMMs.

Hashflow allows market makers to source liquidity from anywhere and price assets using off-chain pricing functions, backed by cryptographic signatures.

By moving pricing off-chain, market makers can use more sophisticated pricing strategies that factor in off-chain data like historic asset prices, volatility, and other real-world information. This allows them to effectively price assets.

What does this mean for Traders?

By moving pricing functions off-chain, traders benefit from:

Better Prices

Off-chain pricing can lead to tighter quotes, which gives traders more bang for their buck.

Zero Slippage

All Hashflow quotes are executed at the displayed price.

MEV(miner-extractable value)-Resistance

Cryptographic signatures provide for greater trade certainty. Traders can keep what they earn.

Bridgeless Cross-Chain Swaps

Traders can seamlessly swap assets across chains within minutes without the need for external bridges while taking advantage of all the benefits from above.

How Hashflow leverages Wormhole

One of Hashflow’s most exciting features is that the protocol allows users to seamlessly swap assets across chains. While the end-user uses Hashflow’s front end to conduct the transaction, the backend process utilizes the Wormhole core messaging layer.

All Hashflow trades are fully protected from both slippage and MEV (miner-extractable value) exploits, whether the trade happens locally on one chain or across chains. No matter where users initiate a trade, they can receive their assets on many destination chain without losing any value.

Wormhole is excited for Hashflow to switch from their previous cross-chain provider to build on Wormhole’s core messaging layer to help power its feature-rich exchange in an xChain world. As a result of the switch, users can expect to see a 50% fee reduction on average, a direct result of the simplicity of Wormhole’s architecture. Specifically, this switch will significantly reduce their on-chain complexity as well as consolidate the overall number of operations required.

The Wormhole Ecosystem

Have you checked out our Ecosystem page yet? It’s where you can find the hottest projects building on Wormhole! If you’re a builder, submit your project, and let’s create the xChain future together!

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